AN INITIATIVE to attract inward investment to South-East Wales is celebrating after creating and safeguarding more than 280 jobs in its first full year of activity.

AN INITIATIVE to attract inward investment to South-East Wales is celebrating after creating and safeguarding more than 280 jobs in its first full year of activity.

Capital Wales, an umbrella organisation covering 10 unitary authorities, the WDA, Elwa and other public and private organisations, has safeguarded 184 jobs and created a further 102.

The initiative has generated investment from 14 new companies over the last 12 months.

Capital Wales acts as a single point of contact for prospective businesses so that they no longer need to go through the lengthy process of contacting individual partner organisations before they can find the best place to locate their enterprise.

"In the past local authorities have almost been working against each other in a bid to claim new business from inward investment," said Sheila Davies, chairwoman of Capital Wales and director of development and regeneration at Rhondda Cynon Taf County Borough Council.

"Now, when an inquiry is placed by a prospective business we are able to work together to offer them the best package of assistance to suit their needs."

The partnership concentrates on attracting business across five key sectors, biotechnology, engineering, service groups, medical and food and packaging.

Leads are dealt with by a project management team which assesses the inquiry and matches the clients' need to the regional offer.

Caerphilly County Borough Council is one of the authorities signed up to the initiative and has already been successful in attracting two new businesses, 50 new jobs into the county thanks to the partnership.

Among those businesses is Murus Building Systems which designs and manufacturer of timber frame structures for the construction industry.

The business, which employs 15 people, started trading from its new home in Oakdale in January of this year, after managing director David Bateman chose the site ahead of several others across the UK.

"I had the opportunity of establishing the business in any area of the UK but the positive attitude and the support I received from Capital Wales was influential enough to ensure that I chose this area," said Mr Bateman.

"We have been able to recruit a workforce with a fantastic work ethic here and have found premises which fit our business needs entirely.

"Without the help and guidance from Capital Wales this business may have been located elsewhere and operating far less productively."

Caerphilly's cabinet member for economic development and regeneration Robert Gough said the scheme had provided access to far more opportunities to attract new business.

"In the past potential investors were often discouraged from setting up their business in this area because they would have to go through such a cumbersome process before getting the answers they needed," he said.

"The creation of the Capital Wales partnership has not only made the whole processes a lot easier for investors has also opened up a whole new set of opportunities for the unitary authorise involved."